For the total pet care sector, inflation reached 8.1 percent year over year in May 2022 and is at 6.7 percent year to date. Fuel price increases are an obvious contributor, but Debbie Phillips-Donaldson shares other competitive factors creating imbalances in the supply chain.
Source: Petfood Industry, June 15, 2022. Link.
<Petfood> is having to compete with renewable diesel or energy to be able to source our ingredients, and that’s not something that we have experienced. . . ” Dana Brooks, CEO, president, Pet Food Institute.
Also see: 5 trends shape the global pet food industry in 2022, Petfood Industry, June 16, 2022. Link. Despite all the changes of the past few years, many of the same trends remain dominant in the pet food industry: premiumization; humanization; buying habits; functional, natural ingredients; sustainability.